FRANKFURT May 20 German luxury carmaker Audi
, a unit of Volkswagen, on Saturday said it
had signed an agreement with its dealers in China regarding how
it will do business in the world's largest car market.
Audi board member Dietmar Voggenreiter said the agreement
with China's FAW Group, the FAW-Volkswagen joint
venture and the Audi dealer council was a "strategic milestone
for Audi's business in China".
Audi said the parties reached a "mutual understanding" that
Audi models from a potential partnership between the carmaker
and China's SAIC Motor Corp Ltd would be sold
through its existing dealer network in China.
(Reporting by Christoph Steitz, editing by Louise Heavens)